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    116-120 Main St Belleville, IL 62220

    Sponsored
    For Sale
    $495,000

    Downtown Belleville retail/office complex. High potential.

    Property size:
    24,558 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 116-120 East Main Street in Belleville, Illinois, presents a unique investment opportunity. The portfolio comprises six properties totaling 24,558 square feet, situated in the heart of Belleville's downtown commercial district, within a Tax Increment Financing (TIF) district and Enterprise Zone. The buildings boast a prime location, just one block east of the town square, with convenient access from East Main Street and South High Street. The ground floor offers 28,000+ square feet of finished retail space, currently fully leased, complemented by over 1,500 square feet of mezzanine/office space. Additionally, there's 4,000+ square feet of finished lower-level space and 6,259 square feet of lower-level storage. The second and third floors, totaling over 25,000 square feet, present significant potential for redevelopment into office spaces, lofts, or apartments. The property features abundant public parking at the rear and numerous interior upgrades completed in 2013 and 2018. Specific to 116-120 East Main Street (9,204 square feet combined street level), 116 East Main is completely remodeled on the main floor, including a 1,044 square foot mezzanine. 120 East Main underwent renovations in 2018. The upper floors (11,080 square feet combined) are ideal for conversion. The asking price for this exceptional portfolio is $495,000. The property is a Class B building, constructed in 1887, with three stories, and sits on a 0.21-acre lot (APN: 08-22.0-338-017

    Property Features for 116-120 Main St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    24,558 SF
    Class
    B
    Lot Size
    9,148 SF

    Building Details

    Year Built/Renovated
    1887/2013
    Stories
    3
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Law Firm Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9821098
    Latitude
    38.5133614

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    FAQs

    What type of property is this?
    Office Property / Space - Downtown Belleville retail/office complex. High potential.
    Where is this office property / space located?
    The property is located at 116-120 Main St Belleville, IL.
    What is the asking price?
    The asking price for this property is $495,000.
    Request Owner's contact information
    116-120 Main St Belleville, IL 62220
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    Belleville, IL 62220
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116-120 Main St Belleville, IL 62220
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